Hiscox News

A.M. Best: European Reinsurers Report Strong Results, Growth Limited

Major European reinsurers have posted very strong full-year results for 2014 and continue to be well capitalized, with profitable underwriting results due to the absence of sizable natural catastrophes and ongoing reserve releases. Nevertheless, reinsurers face challenges as soft market …

Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As

Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …

Lancashire Seen as Target as Lloyd’s Consolidation Trend Continues

Lloyd’s of London insurers Lancashire Holdings plc and Novae Group plc may be the next in line for takeover offers after Brit plc became the second U.K. firm within weeks to be acquired. Lancashire, which gained access to the world’s …

Hiscox PRO Adds Admitted Policies, New Coverages

Hiscox has launched enhancements to its Hiscox PRO suite of insurance coverages for professional liability, encompassing a wider variety of professions with new admitted policies for technology, miscellaneous professional, privacy/data breach, home healthcare and standalone general liability products. The additions …

Hiscox Endorsement Covers Business Loss by Cyber Deception, Phishing

International specialist insurer Hiscox is now offering a Cyber Deception endorsement as part of its crime insurance that is aimed at protecting businesses against malicious efforts by criminals to trick employees into transferring company funds. Cyber deception is a growing threat …

Record Aviation Claims Driving Up Premiums

Insurers worldwide are going to have to pay up to a record $800 million to cover the damage done by attacks on airplanes this year, driving prices up and drawing rivals into the market. The hefty bill dwarfs the $60-$90 …

Hiscox Launches Private Investment Fund Portfolio

Hiscox, the international specialist insurer, has launched its Private Investment Fund Portfolio product to provide protection for many types of asset management firms. The portfolio provides coverage for lawsuits alleging breach of fiduciary duty, fraud, insider trading, securities law violations, …

Lloyd’s Underwriters Find Success with U.S. Subsidiaries: SNL

Insurers Hiscox Ltd., Beazley Plc and Catlin Group Ltd. are reaping the benefits of the U.S. market, according to a report from SNL Financial. SNL data shows how the three companies with significant participation in the Lloyd’s of London market have developed their direct premium written through their …

Hiscox Increases U.S. Terrorism Insurance Capacity to $200 Million

Hiscox has increased capacity to $200 million for U.S. domiciled terrorism risks. The additional capacity addresses the increased demand for standalone terrorism coverage caused by the upcoming expiration of the U.S. government terrorism insurance backstop offered by the Terrorism Risk …

Hiscox Launches Protection for Security Risks to Small, Medium-Sized Businesses

Hiscox has launched a new proactive program addressing a variety of increasing security risks faced by small and medium sized organizations and their employees. Hiscox Special Protection Solutions insurance coverage allows these organizations to address growing domestic exposures, backed by …